SBI Personal Loan Interest Rates

SBI Personal Loan is available at 11% p.a. for loans up to Rs 20 lakh and terms up to 7 years. SBI also provides pension loans up to Rs 14 lakh with terms of up to 7 years. It also provides pre-approved personal loans with immediate loan disbursement.

SBI Personal Loan Interest Rate 2023

Following are the SBI Personal Loan Interest Rate 2023-

- Xpress Credit

Here is the SBI Personal Loan interest rate-

Type

SBI Personal Loan Interest Rate

Term Loan

11.00% - 12.50%

 

- Xpress Elite Scheme 

Type

Sbi Bank Personal Loan Interest Rate

Salary Account Holders

11.00% - 11.50%

Savings Account With Other Banks

11.25% - 11.75%

- Xpress Lite Scheme

1% higher than the Xpress Credit scheme for all applicants.

SBI Personal Loan Interest Rate Today for Pension Schemes

Scheme Type

State Bank of India Personal Loan Interest Rate

SBI Pension Loan

11.15%

Pension Loan Scheme For Treasury & PSU Pensioners

11.15%-11.65%

Pre-approved Insta Pension Top-Up

11.15%

Jai Jawan Pension Loan

11.15%

Pre-Approved Pension Loans(PAPNL)

11.15%

Types of Personal Loans from State Bank of India

Following are the different types of personal loans from State Bank of India-

1) SBI Pre-Approved Personal Loan

This pre-approved personal loan is also known as the SBI Yono Pre-approved Personal Loan. It is available to SBI savings account holders via the SBI YONO App. This pre-approved personal loan is also known as the SBI Yono Pre-approved Personal Loan. It is available to SBI savings account holders via the SBI YONO App.

2) SBI Xpress Credit Personal Loan

SBI Xpress Credit is a personal lending plan available to SBI pay account holders to cover their personal needs. The amount for this loan scheme is Rs. 20 lakhs, with a tenure of 6 months to 6 years.

3) SBI Pre-Approved Personal Loan

Pre-approved fast personal loan plan is available to select consumers 24 hours a day, seven days a week, using the SBI YONO app.

4) SBI Real-Time Xpress Credit Personal Loan

YONO app provides fully digitized 24/7 Xpress Credit personal loans with quick disbursement for government and defense wage package consumers.

5) SBI Quick Personal Loan

It is a personal loan for all salaried individuals who do not have an SBI salary account.

6) SBI Pension Loan

The SBI Pension Loan scheme is available to central and state government retirees, defense pensioners, and family pensioners who receive their pension from SBI. These retirees might use the loan funds to meet their personal requirements.

Who is Eligible for the State Bank of India Personal Loan Schemes?

SBI, like all other banks, has certain qualifying conditions for individuals seeking personal loans. To obtain personal loans from SBI, the consumer must meet the conditions listed below.

SBI loans are available to the following individuals:

  • Salaried professionals such as doctors, CAs, CSS, architects, salaried staff in MNCs, PLCs, and government personnel. SBI also provides personal loans to defense personnel and members of the armed forces. Personal loan interest rates for government and defense personnel differ from those for private sector employees.
  • The applicant's age needs to be between 21 and 65 years old.
  • The monthly salary should not be less than Rs. 24,000 per month.
  • The maximum loan amount available is 15 times the monthly salary.
  • A minimum of 24 months of work experience is required.

What are the Documents Needed to Apply for a Personal Loan from the State Bank of India?

A list of required documents must be presented in order for the loan application to be processed quickly. 

  • Completed loan application form.
  • 2 passport-sized photographs.
  • Driving License/Passport/PAN/Voter ID are acceptable forms of identification.
  • Income Tax PAN copy.
  • Proof of Residential Address - Registered Rent Agreement/Passport/Utility Bill (up to 3 months old).
  • Income proof documents - 3-month pay stubs from your present employer, 3-month bank statements indicating salary credit, EMI debit messages.
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